Will my income tax brackets inscrease over time?
Income tax brackets increase with time
Each year, the minimum required income for each income tax bracket is raised. This means every year the basic personal amount you can claim is higher and more of your money is taxed at a lower rate. Gilded automatically calculates future income tax brackets and taxes your income accordingly. We update these numbers each year as the Government of Canada and provincial governments release their income tax brackets.
Was this helpful?